This Week's Noteworthy Events(July 15, 2024-July 21, 2024)

Ethereum Spot ETF May Launch This Week

Several prominent individuals believe that the Ethereum spot ETF could launch this week.

Bloomberg ETF analyst Eric Balchunas predicts that the U.S. SEC may approve the spot Ethereum ETF on July 18.

Nate Geraci, president of The ETF Store, posted on X: “I would be 'shocked' if a spot Ethereum ETF does not begin trading within the next two weeks. It could launch as early as late next week, but more likely the week of July 15.”

Singapore crypto investment firm QCP Capital expects the Ethereum spot ETF to start trading around July 15.

DOGS Announces Donation of Raised Telegram Stars to Charity, Event Ends on July 15

The TON ecosystem meme project DOGS announced on its official channel that the event for purchasing DOGS points using Telegram Stars will end on July 15, and all proceeds from the Telegram Stars will be donated to charity. The specific charity will be chosen through community voting.

Previously, it was reported that the DOGS mini-program launched a new feature allowing users to purchase DOGS points with Telegram Stars, with 1 Telegram Star buying 1 DOGS point.

South Korean Crypto Exchange GDAC to Terminate Services on July 16

South Korean crypto exchange GDAC announced that it will terminate services due to a system reorganization, effective July 16. From this date, automated withdrawals will switch to manual withdrawals, and GDAC will implement separate withdrawal fee policies for manual withdrawals.

Previously, GDAC reported a hack resulting in a loss of nearly $13 million in assets, including approximately 61 Bitcoins, 350.5 Ethereum, 10 million WEMIX, and 220,000 USDT, accounting for 23% of its total custodial assets.

Dough Finance Demands Hacker Response or Fund Return by July 16, 7:00 AM

Cyvers Alerts monitoring shows that Dough Finance has sent an on-chain message to the hacker, seeking to discuss the next steps for resolving the issue. Dough Finance demands that the hacker email them or return the funds by 11:00 PM UTC on July 15 (7:00 AM Beijing time on July 16) or face legal action.

Previously, Dough Finance reported a hack resulting in a loss of $1.81 million.

Source: SEC's Closed-Door Meeting This Thursday May Address Ripple Lawsuit Settlement

The SEC plans to hold a closed-door meeting this Thursday (July 18). While the official agenda has not been disclosed, sources suggest the meeting may address the Ripple lawsuit and potential settlement.

The notice outlines the meeting's agenda, including injunction litigation, administrative proceedings, litigation claims, and other matters related to review and enforcement procedures. Although the notice does not specifically mention the Ripple case, the crypto community speculates that it will be a focal point given its prominence and the SEC's involvement in multiple legal actions (Coin Edition).

Grayscale: ETHE to Allocate 10% of Held ETH to Ethereum Mini Trust on July 18 Record Date

Grayscale announced that July 18, 2024, will be the record date for the initial creation and allocation of Grayscale Ethereum Mini Trust (Ethereum Mini Trust) shares to Grayscale Ethereum Trust (ETHE) shareholders.

Grayscale plans to launch the Ethereum Mini Trust on the NYSE Arca with the trading symbol “ETH” upon receiving regulatory approval.

In the initial allocation, ETHE will contribute 10% of its held Ethereum as of 4:00 PM Eastern Time on the record date to the Ethereum Mini Trust, and each ETHE shareholder as of 4:00 PM Eastern Time on the record date will be entitled to receive shares of the Ethereum Mini Trust on a 1:1 basis.

Sanctum: CLOUD Airdrop Claim Opens on July 18

Solana ecosystem liquidity staking protocol Sanctum announced on X that the LFG website will go live on Tuesday (July 16), allowing users to check airdrop allocations. The Alpha Vault will also open. CLOUD will officially launch on Thursday (July 18), allowing users to claim airdrops and start trading CLOUD.

Optimism to Open Grant Applications on July 18

Optimism launched OP Governance Season 6 on June 27, running until December 11. This season's theme is “Optimizing the Superchain.” The governance season aims to advance decentralization, attract more public chains to the Superchain, and promote the growth of Superchain application developers. Additionally, grant applications will open on July 18, with rounds occurring every three weeks. Through these measures, Optimism aims to enhance its blockchain ecosystem's scalability and diversity.

South Korean State Council Approves Virtual Asset User Protection Act, Effective July 19

The South Korean State Council has approved the enforcement decree of the Virtual Asset User Protection Act, which will take effect on July 19. The act aims to protect virtual asset users and regulate the virtual asset market's order. Under the new law, Virtual Asset Service Providers (VASPs) must secure user deposits through banks and store users' virtual assets offline to prevent hacking risks.

Additionally, the Financial Services Commission will establish a Virtual Asset Committee to provide policy and regulatory advice for the cryptocurrency market. The new law also stipulates criminal penalties and fines for unfair trading practices such as insider trading and market manipulation. VASPs have the right to suspend user cash and virtual asset withdrawals under reasonable circumstances.

Lava Network: Vesuvius Airdrop Claim Ends This Week

Modular blockchain infrastructure developer Lava Network announced that the Vesuvius airdrop is live, with the claim interface open until 4:00 AM Beijing time on July 19. This airdrop will distribute approximately 55 million LAVA tokens, accounting for 6% of the total supply. Airdrop recipients include early users, community members, node operators, infrastructure providers, and researchers and technical contributors.